Bipartisan Budget Act of 2013

On December 10, 2013, Senate Budget Committee chairman Patty Murray (D-WA) and House Budget Committee chairman Paul Ryan (R-WI) announced that they have reached a two-year budget agreement in advance of the budget conference’s December 13th deadline.

The Bipartisan Budget Act of 2013 would set overall discretionary spending for the current fiscal year at $1.012 trillion—about halfway between the Senate budget level of $1.058 trillion and the House budget level of $967 billion. The agreement would provide $63 billion in sequester relief over two years, split evenly between defense and non-defense programs. In fiscal year 2014, defense discretionary spending would be set at $520.5 billion, and non-defense discretionary spending would be set at $491.8 billion.

The sequester relief is fully offset by savings elsewhere in the budget. The agreement includes dozens of specific deficit-reduction provisions, with mandatory savings and non-tax revenue totaling $85 billion. The agreement would reduce the deficit by $23 billion.

Restriction on access to the Death Master File (fee based access going forward to cover its costs)

Identification of inmates requesting or receiving improper payments

FEDERAL CIVILIAN AND MILITARY RETIREMENT

Federal Employees Retirement System for new employees

Annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62

HIGHER EDUCATION

Default Reduction Program

Elimination of nonprofit servicing contract

TRANSPORTATION

Aviation security service fees

Transportation cost reimbursement

MISCELLANEOUS PROVISIONS

Limitation on allowable government contractor compensation costs: limits how much a contractor could charge the federal government for an employee’s compensation to $487,000, adjusted annually to reflect changes in the Employment Cost Index. (Comment: does this mean that government contractors are receiving more than $487,000 annually for an employee? How do I sign up?).